The ugly-duckling of Mobile TV standards definitely didn’t get off to a good start in 2007. MediaFLO, wholly owned by lawsuit-loving Qualcomm, has shown that 2007 wasn’t a great year for profits.
MediaFlo’s 2007 statement-filing with the SEC details yet another year of red-ink. Qualcomm’s Mobile TV initiative has posted losses of $240 million for 2007. That’s means Qualcomm lost $118 million more than last year, on this whole “Mobile TV” deal. And, Qualcomm is blaming its QSI (Qualcomm Strategic Initiative) arm’s lackluster financial performance on MediaFLO’s losses.
Apparently, MediaFLO took a $70 million hit on its Verizon Wireless-launch last year and the company’s expected launch on AT&T may just widen the gap between profits and losses. Let’s hope Qualcomm’s headed for “greener” pastures with MediaFLO’s 2008 performance.
[Via: MocoNews]